[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio2cb9b695":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio2cb9b695","微软(MSFT)时隔9年重返美国投入级债市-拟筹250亿美元加码AI投入","\u002Fdoc\u002Fdcio2cb9b695","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\n\u003C\u002Fp>\u003Cp>\u003Cspan>美股投资网获悉，微软(MSFT)正寻求通过首次时隔九年多的美国投资级债券发行筹集至少250亿美元，加入竞争对手的融资热潮，以筹集资金支持人工智能(AI)投资热潮。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>据知情人士透露，微软目前尚未最终确定此次债券发行的规模，具体金额可能根据市场需求进行调整。知情人士指出，微软将发行最多10个期限不同的债券品种，期限从2年至40年不等。其中一名知情人士补充称，期限最长、将于2066年到期的债券，初步价格指导为较美国国债收益率高出最多1.35个百分点。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>富国银行(WFC)、摩根大通(JPM)和瑞银集团(UBS)负责管理此次债券发行。该人士表示，发行所得资金将用于一般企业用途，包括资本支出。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>此次交易将结束微软长期以来的债券发行空窗期。根据汇编数据，微软是美国仅有的两家同时获得穆迪评级和标普全球评级最高级别AAA评级的上市公司之一，另一家公司为强生(JNJ)。微软上一次发行高评级债券还要追溯到2017年，当时筹集了170亿美元。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>此次发行也是自Alphabet(GOOGL)于8月6日定价发行250亿美元债券以来，首家美国大型蓝筹超大规模云服务商(hyperscaler)进行的债券发行。在市场日益担忧AI行业大规模支出热潮能否持续的背景下，此次发行将成为衡量投资者对AI投资融资需求的关键测试。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>微软周三美股盘后公布的2027财年第一季度财报显示，该公司当季营收达922.79亿美元，同比增长19%，增速高于市场预期得到17%;非GAAP调整后净利润达到364.22亿美元，同比增长18%;调整后每股收益为4.89美元，高于上年同期的4.13美元，同比增长18%。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>云计算业务继续成为微软业绩增长的重要动力。第一财季，微软Azure收入达到331.65亿美元，较上年同期的223.84亿美元增长48%，增速同样高于市场预期的44%，反映出企业对云计算及人工智能基础设施的需求持续扩大。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>现金流方面，微软第一财季经营活动现金流达到580亿美元，较上年同期的450.57亿美元增长约29%。与此同时，公司持续加大基础设施投资。当季用于购置物业及设备的资本支出达到393.67亿美元，较上年同期的193.94亿美元增长约103%，但还较分析师预期低14.3%，也低于上一季度410亿美元的资本开支水平。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>对AI交易而言，这是让市场兴奋的是“高增长+资本开支低于预期”的组合。作为衡量企业AI需求的核心指标之一，Azure收入增速不仅打败卖方预期，也超过部分买方可能接近47%的更乐观预期;收入和利润端全线超预期，接近50%的运营利润率说明AI投入尚未明显破坏微软盈利能力;同时，现金资本开支低于预期，被解读为AI投入回报率好于预期，短线缓解了市场对AI“只烧钱、不变现”的担忧。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>而在业绩电话会期间，微软高管透露第二财季Azure收入将增长49%-50%、增速进一步加快，公历2026年全年资本支出指引约1700亿美元、略低于此前预期。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>最专业的美股资讯,推荐美股大数据 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href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\">案例介绍：英伟达深度研究报告\u003C\u002Fa>\u003C\u002Fh2>\u003C\u002Fdiv>",[33,37],{"productId":34,"serviceName":35,"priceText":36},"prod_PPxdDdK87QaiLv","月付","$12.95美元",{"productId":38,"serviceName":39,"priceText":40},"prod_PPxeMs3bix1da5","年付","$149.00美元",[],{"links":43,"images":71,"summaryHtml":76,"aboutTitle":77,"aboutHtml":78,"copyrightHtml":79},[44,47,50,53,56,59,62,65,68],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fvip",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"AI智能体","\u002FAiAgent",{"label":60,"url":61},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":63,"url":64},"美股课程","\u002Fcol\u002Fvideos",{"label":66,"url":67},"免责声明","\u002Fdisclaimer",{"label":69,"url":70},"联系我们","\u002FContactUs",[72,73,74,75],"\u002Fimages\u002Ffooter\u002Ffooter-1-wechat.gif?v=20260930c","\u002Fimages\u002Ffooter\u002Ffooter-2-telegram.png?v=20260930c","\u002Fimages\u002Ffooter\u002Ffooter-3-whatsapp.png?v=20260930c","\u002Fimages\u002Ffooter\u002Ffooter-4-line.png?v=20260930c","邮箱: buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理海量股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，美股买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"courseContent":87,"more":88,"buyNow":89,"subscribeNow":90,"encoding":91,"paidContent":92},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]